Get up to date with this week's ecommerce headlines from around the globe.
Amazon’s record Prime Day results
Taking place from Tuesday 12th to Wednesday 13th, Amazon’s annual Prime Day this year drove the 2022 record for online sales. This year’s Prime Day marks the biggest ever Prime Day event in the company’s history, with over 300 million items purchased globally. The first 24 hours of the event made Tuesday the busiest day for total U.S online spending, which jumped 7.8% from one year ago. The average Amazon Prime customer ordered $54 during the first 36 hours of Prime Day with top-selling items being Fire TV Sticks, Echo Dots, and gift cards.
Amazon to create over 4,000 jobs in the UK this year
Amazon has announced that it will be creating more than 4,000 jobs across the country this year, split across technology, warehouse and office roles. This recruitment push will take its UK workforce to 75,000 people, having created 40,000 new jobs over the past 3 years.
Amazon could be phasing out its private-label business
Amazon is reportedly phasing out its private-label business, including its AmazonBasics range, and are considering blending its private-label selections. Despite recent rapid expansion and offering cheaper alternatives to household names, the company has seen its private-label brand sales falling as those of rivals Walmart and Target soar.
Amazon launches a Tesco Clubcard Price Match for its Fresh stores
As inflation and cost-of living rises, Amazon appeals to customers as it carries out a Tesco Clubcard Price Match scheme at its Fresh stores in the UK. Prices of everyday groceries “matched and locked” to Tesco Clubcard deals every week but the scheme will only apply online rather than in Amazon Fresh stores.
Shopify’s app downloads slow down as the company struggles to keep up with Amazon
Canadian ecommerce giant, Shopify, has seem app downloads fall. The company is facing challenges such as customer retention and package-tracking capabilities, likely to be hindering their success. Although, the slowdown in app downloads could also be attributed to decreased consumer spending and rising global inflation.
Shein is planning to go public in the US by 2024
Shein is set to launch its first public offering in the US within the next 2 years, but is facing environmental, social and governance concerns that could slow down the plan. The company was recently valued at $100 billion USD despite allegations of dangerous working conditions and fast and prolific production chain, but major investors are not being put-off.
Buy-now-pay-later boosts sales for 75% of UK retailers
As a direct result of offering BNPL payment options to customers, 75% of retailers in the UK have seen improvements in at least 1 area of their business sales and performance metrics. Over 17 million UK consumers have claimed to use BNPL services, which has led to new customer acquisition improving for 59% of retailers.
Ecommerce sales are on route to exceed $1 trillion this year
A recent piece of research has predicted that ecommerce sales will rise to $1 trillion by the end of this year, which is double what it was in 2018. Ecommerce sales soared amid the pandemic, described as “four quarters of hyper-growth”, but shoppers are now more cautious in their spending habits as a recession looms.
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